CEZ A.S.

Notice of Dividend Amount • Jun 28, 2021

NOTICE ON PAYMENT OF DIVIDEND

The Board of Directors of the company ČEZ, a. s., with its registered office in Prague 4, Duhová 2/1444, postcode 140 53, company ident. no.: 45274649, registered in the Commercial Register maintained by the Municipal Court in Prague, Section B, Insert 1581, notifies that the ordinary Annual General Meeting of the company decided on June 28, 2021 to pay to the company shareholders a dividend equal to CZK 52 before tax per share.

The dividend will be paid through Česká spořitelna, a.s., company reg. No. 45244782, having its registered office at Olbrachtova 1929/62, Praha 4, postcode 140 00 ("Česká spořitelna").

The record date for entitlement to the dividend is July 2, 2021. Entities that will be shareholders of the Company as at the record date for entitlement to the dividend will be entitled to the dividend.

Shareholders–legal entities that are not represented by custodians of securities will receive the dividend to their account with a bank in the Czech Republic based on a written request delivered to Česká spořitelna with an authenticated signature of the person(s) authorized to act on behalf of the legal entity. Such a written request must contain a solemn declaration of the actual ownership of the income and of the shareholder's tax residency and include an account number and the identification of the bank keeping that account. Together with the written request, Česká spořitelna must receive an extract from the commercial register or an appropriate foreign register (not older than 6 months) concerning the shareholder, or an authenticated copy thereof. Shareholders—legal entities with registered office in the Czech Republic and legal arrangements that are obliged to register the beneficial owner according to Act No. 37/2021 Coll., on the registration of beneficial owners (hereinafter referred to as the "Beneficial Owners Registration Act"), shall also deliver to Česká spořitelna an extract from the beneficial owners registration carried out pursuant to the Beneficial Owners Registration Act (not older than 1 month) concerning this shareholder and evidencing the registration of its beneficial owner pursuant to the Beneficial Owners Registration Act, or an officially certified copy thereof1 . Česká spořitelna shall also check the existence of a beneficial owner registration under the Beneficial Owners Registration Act as at the date of administration of the dividend payment and the dividend shall not be paid by Česká spořitelna to the aforementioned shareholders who do not have any beneficial owner registered under the Beneficial Owners Registration Act as at the date of administration of the dividend payment.

Custodians of securities and participants keeping related records will receive the dividend to their account with a bank in the Czech Republic based on their written request delivered to Česká spořitelna with an authenticated signature of the person(s) authorized to act on behalf of the custodian/participant. Such a written request must contain a summary solemn declaration of the actual ownership of the income and of the tax residency of the final dividend income owners to whom the custodian of securities provides their services or for whom the related records are kept, and include an account number and the identification of the bank keeping that account. Together with the written request, Česká spořitelna must receive an extract from the commercial register or an appropriate foreign register (not older than 6 months) concerning the custodian/participant, or an authenticated copy thereof. The custodian and the participant shall also deliver to Česká spořitelna an extract from the beneficial owners register prepared in accordance with the Beneficial Owners Registration Act (not older than 1 month) concerning shareholders—legal entities with a registered office in the Czech Republic and legal arrangements that are obliged to register a beneficial owner pursuant to the Beneficial Owners Registration Act, for which

¹ The obligation to submit a statement of beneficial ownership (or a certified copy thereof) does not apply to shareholders who are not corporations if they meet the conditions for payment (i.e., in particular, submit a complete request, except for the statement of beneficial ownership) by November 30, 2021.

the function of securities custodian is performed or a related register is kept, evidencing the registration of the beneficial owner of such shareholder pursuant to the Beneficial Owners Registration Act, or a certified copy thereof1. Česká spořitelna shall also check the existence of a beneficial owner registration under the Beneficial Owners Registration Act as at the date of administration of the dividend payment and no dividend shall be paid to the custodian or participant in respect of the aforementioned shareholder for whom the function of securities custodian is performed or a related register is kept, in the event that such shareholder does not have any beneficial owner registered under the Beneficial Owners Registration Act as at the date of administration of the dividend payment by Česká spořitelna.

Shareholders–natural persons that have permanent residence in the Czech Republic and are not represented by a custodian of securities or authorized representative will receive the dividend in cash upon the presentation of an identity card at any Česká spořitelna branch in the Czech Republic or to an account with a bank in the Czech Republic based on their written request delivered to Česká spořitelna. Such a written request must contain a solemn declaration of the shareholder's tax residency and include an account number and the identification of the bank keeping that account. A shareholder's representative will receive the dividend upon the presentation of an identity card and a letter of attorney signed by the shareholder, containing a solemn declaration of the shareholder's tax residency. The authenticity of a shareholder's signature on a request for dividend wire transfer or on the letter of attorney for the shareholder's representative must be officially certified only if the shareholder's total gross dividend exceeds CZK 1,000.

Shareholders–natural persons that have permanent residence in the Slovak Republic and are not represented by a custodian of securities or authorized representative will receive the dividend in cash upon the presentation of an identity card and a proof of the assignment of SID (substitute identification number assigned by the keeper of relevant securities records) at any Česká spořitelna branch in the Czech Republic or, based on their written request delivered to Česká spořitelna, to an account with a bank in the Czech Republic. Such a written request must contain a solemn declaration of the actual ownership of the income and of the shareholder's tax residency and include an account number and the identification of the bank keeping that account. A shareholder's representative will receive the dividend upon the presentation of an identity card, a letter of attorney signed by the shareholder, containing a solemn declaration of the shareholder's tax residency, and a proof of SID assignment to the shareholder. The authenticity of a shareholder's signature on a request for dividend wire transfer or on the letter of attorney for the shareholder's representative must be officially certified only if the shareholder's total gross dividend exceeds CZK 1,000.

Shareholders–natural persons that have permanent residence outside the Czech Republic and the Slovak Republic and are not represented by a custodian of securities will receive the dividend to their account with a bank in the Czech Republic based on their written request delivered to Česká spořitelna with an authenticated signature. Such a written request must contain a solemn declaration of the actual ownership of the income and of the shareholder's tax residency and include an account number and the identification of the bank keeping that account.

Tax will be withheld under the conditions resulting from applicable Czech tax regulations (in particular Act No. 586/1992 Sb., on income taxes, as amended) and/or under applicable double taxation agreements between the Czech Republic and the state of the final dividend income owner's tax residency. For the purposes of taxation under such applicable double taxation agreements, the shareholder or custodian of securities must deliver to Česká spořitelna, together with the written request, the final owner's declaration of the actual ownership of the dividend income and a current certificate of the final owner's tax residency. If such documents are drawn up in a language other than Czech or Slovak, the shareholder or custodian of securities must have the documents translated into Czech at their own expense (the translation does not have to be officially certified). The shareholder must prove reliably that conditions for the application of a reduced withholding tax rate are met.

¹ The obligation to submit a statement of beneficial ownership (or a certified copy thereof) does not apply to shareholders who are not corporations if they meet the conditions for payment (i.e., in particular, submit a complete request, except for the statement of beneficial ownership) by November 30, 2021.

A shareholder that is entitled to make an additional request for the application of a reduced withholding tax rate and for the refund of the difference between the withholding tax applied and the reduced withholding tax under the conditions set down in tax legislation must prove that conditions for the application of a reduced rate are met in a timely and reliable manner, in particular in compliance with the time limit set down in Section 38d(12) of Act No. 586/1992 Sb., on income taxes, as amended.

The dividend is payable on August 2, 2021 at the earliest and will be paid to a shareholder's bank account without undue delay as soon as Česká spořitelna receives the shareholder's request within the meaning of the foregoing paragraphs. The dividend will be paid until July 31, 2025.

In the event that a shareholder—a legal entity with its registered office in the Czech Republic or a legal arrangement that is obliged to register a beneficial owner under the Beneficial Owners Registration Act requests payment of a dividend (either directly or by an custodian or participant on its behalf) and, due to the fact that it has no beneficial owner registered in the beneficial owners register under the Beneficial Owners Registration Act, the dividend shall not be paid by December 31, 2021, this shareholder's entitlement to the dividend shall cease as at December 31, 2021.